Strattec Security (NASDAQ:STRT) Stock Rating Lowered by Zacks Research

Strattec Security (NASDAQ:STRT) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Tuesday, Zacks reports.

Other research analysts have also recently issued reports about the stock. Freedom Broker reiterated a “hold” rating and set a $83.00 price objective (down from $89.00) on shares of Strattec Security in a report on Monday, August 31st. Weiss Ratings reissued a “buy (b)” rating on shares of Strattec Security in a research report on Monday, September 21st. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Strattec Security presently has an average rating of “Moderate Buy” and a consensus target price of $83.00.

Strattec Security Stock Down 1.5%

Shares of NASDAQ:STRT opened at $64.91 on Tuesday. Strattec Security has a twelve month low of $57.01 and a twelve month high of $93.00. The stock’s 50 day moving average is $74.78 and its 200-day moving average is $76.67. The firm has a market capitalization of $258.34 million, a price-to-earnings ratio of 12.98, a PEG ratio of 1.54 and a beta of 1.23.

Strattec Security (NASDAQ:STRT) last posted its quarterly earnings results on Tuesday, August 25th. The auto parts company reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.70. The business had revenue of $151.83 million during the quarter, compared to the consensus estimate of $146.77 million. Strattec Security had a net margin of 3.56% and a return on equity of 10.79%. Equities research analysts anticipate that Strattec Security will post 4.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Strattec Security

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in Strattec Security during the 2nd quarter worth $26,464,000. Dimensional Fund Advisors LP raised its holdings in shares of Strattec Security by 3.6% in the first quarter. Dimensional Fund Advisors LP now owns 248,136 shares of the auto parts company’s stock valued at $19,438,000 after purchasing an additional 8,542 shares during the last quarter. Gabelli Funds LLC raised its holdings in shares of Strattec Security by 41.7% in the first quarter. Gabelli Funds LLC now owns 247,800 shares of the auto parts company’s stock valued at $19,413,000 after purchasing an additional 72,900 shares during the last quarter. De Lisle Partners LLP bought a new position in shares of Strattec Security during the second quarter valued at about $3,494,000. Finally, Lazard Asset Management LLC lifted its position in shares of Strattec Security by 16.4% during the first quarter. Lazard Asset Management LLC now owns 40,995 shares of the auto parts company’s stock valued at $3,212,000 after purchasing an additional 5,769 shares in the last quarter. 68.91% of the stock is owned by hedge funds and other institutional investors.

Strattec Security Company Profile

Strattec Security Corporation designs and manufactures automotive access, security and related vehicle-control products. Its product portfolio includes mechanical and electronic locks, latches, keys, key fobs, ignition systems, actuators and other components used to control access to and operation of vehicles.

The company supplies original equipment manufacturers and other automotive customers, with products used in passenger vehicles, light trucks and other applications. Its operations primarily serve the North American automotive market, while its products and customer relationships support vehicle production in other international markets.

Strattec traces its roots to the automotive security operations associated with Briggs & Stratton and became an independent publicly traded company in 1995.